Kimco Realty Corporation $KIM Stock Position Reduced by Resolution Capital Ltd

Key Points

• Resolution Capital Ltd has reduced its stake in Kimco Realty Corporation by 3.2%, selling 530,213 shares and maintaining a total of 16,048,613 shares, which represents 6.6% of its portfolio.
• The company recently announced a quarterly dividend of $0.25 per share, with an annualized yield of 4.4% and a high payout ratio of 120.48%.
• Analyst ratings for Kimco Realty are currently varied, with the stock holding a consensus rating of "Moderate Buy" and a target price of $24.75.

Resolution Capital Ltd trimmed its stake in shares of Kimco Realty Corporation (NYSE:KIM - Free Report) by 3.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,048,613 shares of the real estate investment trust's stock after selling 530,213 shares during the quarter. Kimco Realty comprises 6.6% of Resolution Capital Ltd's holdings, making the stock its 5th biggest position. Resolution Capital Ltd owned about 2.37% of Kimco Realty worth $340,873,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi raised its holdings in shares of Kimco Realty by 54.2% in the 1st quarter. Amundi now owns 9,252,421 shares of the real estate investment trust's stock worth $186,646,000 after purchasing an additional 3,253,031 shares in the last quarter. Invesco Ltd. raised its holdings in shares of Kimco Realty by 14.7% in the 1st quarter. Invesco Ltd. now owns 19,936,026 shares of the real estate investment trust's stock worth $423,441,000 after purchasing an additional 2,552,276 shares in the last quarter. Deutsche Bank AG raised its holdings in shares of Kimco Realty by 94.7% in the 4th quarter. Deutsche Bank AG now owns 4,177,662 shares of the real estate investment trust's stock worth $97,883,000 after purchasing an additional 2,031,722 shares in the last quarter. Kettle Hill Capital Management LLC raised its holdings in shares of Kimco Realty by 180.9% in the 4th quarter. Kettle Hill Capital Management LLC now owns 1,409,811 shares of the real estate investment trust's stock worth $33,032,000 after purchasing an additional 907,929 shares in the last quarter. Finally, Centersquare Investment Management LLC raised its holdings in shares of Kimco Realty by 8.9% in the 1st quarter. Centersquare Investment Management LLC now owns 9,000,485 shares of the real estate investment trust's stock worth $191,170,000 after purchasing an additional 733,514 shares in the last quarter. 89.25% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on KIM shares. Mizuho boosted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock a "neutral" rating in a report on Wednesday, August 20th. Piper Sandler dropped their target price on shares of Kimco Realty from $28.00 to $26.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Barclays boosted their target price on shares of Kimco Realty from $25.00 to $26.00 and gave the stock an "overweight" rating in a report on Wednesday, August 27th. Evercore ISI lifted their target price on shares of Kimco Realty from $22.00 to $23.00 and gave the stock an "in-line" rating in a research report on Monday. Finally, Wall Street Zen raised shares of Kimco Realty from a "sell" rating to a "hold" rating in a research report on Saturday, August 2nd. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and eight have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $24.90.

Kimco Realty Trading Down 0.8%

Shares of Kimco Realty stock traded down $0.17 during trading on Tuesday, hitting $22.35. The stock had a trading volume of 4,448,787 shares, compared to its average volume of 3,268,853. The stock has a 50 day simple moving average of $21.69 and a 200 day simple moving average of $21.14. The company has a market capitalization of $15.14 billion, a PE ratio of 26.93, a P/E/G ratio of 1.63 and a beta of 1.32. The company has a quick ratio of 3.92, a current ratio of 3.92 and a debt-to-equity ratio of 0.76. Kimco Realty Corporation has a 1 year low of $17.93 and a 1 year high of $25.83.

Kimco Realty (NYSE:KIM - Get Free Report) last released its earnings results on Thursday, July 31st. The real estate investment trust reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Kimco Realty had a net margin of 28.54% and a return on equity of 5.58%. The business had revenue of $525.18 million for the quarter, compared to the consensus estimate of $524.75 million. During the same period last year, the firm posted $0.41 earnings per share. The firm's quarterly revenue was up 5.0% compared to the same quarter last year. Kimco Realty has set its FY 2025 guidance at 1.730-1.750 EPS. On average, research analysts expect that Kimco Realty Corporation will post 1.71 EPS for the current fiscal year.

Kimco Realty Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 19th. Investors of record on Friday, September 5th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, September 5th. This represents a $1.00 dividend on an annualized basis and a yield of 4.5%. Kimco Realty's payout ratio is presently 120.48%.

About Kimco Realty

Kimco Realty Corp. is a real estate investment trust (REIT) headquartered in New Hyde Park, N.Y., that is one of North America's largest publicly traded owners and operators of open-air shopping centers. As of December 31, 2018, the company owned interests in 437 U.S. shopping centers comprising 76 million square feet of leasable space primarily concentrated in the top major metropolitan markets.